24 March 2014
My client is receiving rent income from a go down which is using for storing of "Mirchi", Under which head i have to consider this income ( i.e. "Income From House Property" or " Income from Business or Profession" ), Please guide me.
24 March 2014
If you client is involved in the business of renting of properties, then it should consider under PGBP otherwise it should consider under Income under House property. If rent from godown is not the main business then include in House property income.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
24 March 2014
Sir
My client is a House wife, she received the said property from their parents as a gift at the time of her marriage.
In above case what procedure can i adopt, please suggest me
24 March 2014
The income should be charged under income from house property. Renting of property should only included in hp head. refer chennai properties and investments ltd judgement.
CAclubindia
